Quote:
Originally Posted by Bobnfl
Our adviser is suggesting a Guaranteed Annuity for some extra monthly income. Please inform me of the pros and cons. $265k for a $1675 monthly income for life. Break even is at 13yrs. Is it worth it. It is with a AA+ rated company. There are no fees but once invested there is no refund or backing out. You have it for life. We are now 70yo. 3 years from RMD. Help us make a decision
Thanks for any help you can give.
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Was his name SAM???? Remember it’s your money spend it, give it away, or lose it how you wish. I would be very suspicious of that scheme? But that me. By my calculations you would only break even in 13 years providing you live that long. Another thing, what’s 1695. Going to be worth in 13 years? It Vegas owner bet, he have no skin in game till 13 years plus plus he had 265K to invest. Now if the company done everything right and not bankrupt you may of made out even or better of live more than 84?